Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-09-24

lDtlI udlly COslpohAOh Ia pON't "hN
business life, and this, too, despite tue
entreaties OF his friends and family,
who frequently asked him to sever this
connection, and thereby free himself
and his family name from the suspicion
cast upon him by reason OF his close
affiliation with Ives.
Ioremus is a New Yorker, son OF
the well-bnown Professor r. Ogden
Doremus, and has a host of friends
He is Of commanding presence, with.
the build OF an athlete, and has n
smooth, boyish face. He was elected
member of the New York Stock Ex-
change December 81, 1885, and took
his seat shortly after January /, 1886.
IN the February following he became
the exchange member of Henry 5.
Ives & Co., the other partners being
Ives and George II. Stsyner. In April
of that year, within four months after
he bad joined the exchange, the Gov
erning Committee, by a nearly unani-
nous vote, suspended him for an indie
finite period, or foras long as he con-
tikued to be a member of the firm, be-
cause Of certain transactions OF Ives,
who had engineered the celebrated
Mutual Union deal of 1885, in which
be was considered to have been guilty
of unbusinesslike proceedings and by
reason of which those connected with
him were made to suffer. Ives himself
was not member Of the exchange
and therefore personally beyond its
reach. Mr.. Doremus, however, TO the
surprise OF his friends and acquaint-
ances, preferred the stigma of tempo
rary suspension to the severance of his
relations with Ives and he continued as
a member OF the firm. Ives then
was characterized as the wicked
Ives" as man with whom the
Stock Exchange could have nothi lg to
do by reason of bis Inscriptions me-
thods. Before many months Ives form
ed q syndicate and obtained the con-
troll OF the rich Cincinnati, Hamilton
and Dayton road. He and his partner,
Srayner, became president and vice
president respectively of this compa
ny, and his banking Office here became
the depository of its cash surplus and
securities. BE prospered outwardly,
and with him his partners. Ives went
on in a career the full details OF which
have already been published. He fur
nished handsome house, drove team
of spirited horses, occupied the offices
where the substantial firm of Morton.
Bliss & Co. had transacted business
for many years, and had a large
force of clerks, from cashier
down to a private stenographer
and telegraph-operator. Men looked
Oh in wonder while this suda-
cious young fnancier proceeded to COB
BILE up railroads right and left and hest
tated not in an attempt to purchase the
control OF the Baltimore aud Ohio
During all this time, however. he had
never shown any repentance for his
former wicked deeds, but he bore the
impress of success, and Wall street
adores success. While ho was still at
heart the "wicked Ives" many men
were disposed TO write the word sex "
before the adjective. TON" Dore-
mus, as he is familiarly called, was,
however, still under the ban OF the
Stock Exchange, and unable 10 trans
act business upon its floor. But tue
success OF his partner seemed to pat
a different complexion upon the sltua-
lion, and was undertaken for
his reinstatt There remained III
Wall street, However, certain contin-
gent who were not dazzled by the bril-
liant and skyrockety career of Ives.
They had inherited certain traditions as
to business methods, and they, III their
bomely, conservative way. could not
understand how the man who had been
stIematized as dishonest could SO soon
have purged himself. They protested
loudly and earnestly against the rein
statement of Doremus, but the latter's
friends prevailed, and last April the
Governing Committee, by small ma
iority vote, reinstated him to the full
privileges of the exchange.
Those who had protested against this
did not, however, rest there. They
made the matter an issue for the an
nual election in the following May.
The campaign was fought bitterly and
resulted in a vote sufficiently large TO
show the Governing Committee that
their action was not approved to the
extent they had hoped that it would be.
Doremus went back and forth upon
the floor of the exchange aud
quietly and unobtrusiyely attended
to the buying and selling of the
stocks in which his firm was in
terested. The end, however, was not
far off. The celebrated Baltimore and
Ohio deal collapsed, certain stockhold-
ers of the Cincinnati, Hamilton and
Dayton road began to ask ugly ques-
tions, and corporations who had lent
largely to Ives Il Co. upon the securi-
ties OF the roads controlled by that
house found that by reason Of Iyes's
mismanagement the securities they held
were largely deprecated in value, and,
as more and more light was let in upon
the situation, Ives was forced to make
an assignment. Doremus joined in
the assignment, aud therefore was
debarred from the privileges of
the Stock Exchange floor, and the In
solyency Committee, which Is sub
committee of the Governing Committee,
commenced an examination into the
failure and came to the conclusion that
it was caused by 4" unbusinesslike deal
ipgs," and so reported to the Govern
ing Committee, which yesterday acqui
esced in the report, which, under the
rules Of the exchange, makes Mr.. Do
remus "ineligible for reinstatement, "
and sends him forth with a stigma upon
his business reputation.
Those men in Wall street who were
dazzled by the temporary success OF
ives and who cancelled the adjective
wicked as applied to him, now that his
roeket-stick has come down with thud,
suddenly change their front anl point
at him again as one they cannot en-
dorse. Doremus pays dearly for his
loyalty, for upon him alone does the
blow fall.
A representative OF the World found
MIR. Doremus last evening and asked
"Wbat have You 10 say, hlr. Dore-
mus, regarding the action Of the Stock
Exchange ?"
"Whst action ?" was the quick re-
spouse.
"Ihe declaration of the Board of
Governors that you are not eligible for
-